Interpublic profits drop 3.1% to $105.5m
By Daniel Farey-Jones, campaignlive.co.uk, Friday, 27 July 2012 12:30PM
Interpublic (IPG), the world's fourth largest advertising group, has become the first of the big four to reveal a drop in second quarter profits.
IPG yesterday unveiled a 3.1% year-on-year drop in second quarter net income to $105.5m (£67m).
IPG, which owns McCann Erickson and DraftFCB as well as media networks Universal McCann and Initiative, was hit by a 3.7% decline in revenue in its home turf of the United States to $950.8m.
International revenues rose 1.6% to $764.8m, but overall revenues fell 1.4% to $1.72bn.
Michael Roth, chairman and chief executive of Interpublic, said: "The global economic situation remains uncertain, which will require vigilance.
"We are nonetheless targeting stronger growth in the second half, in order to achieve our full year 2012 objective of 3% organic revenue growth."
The group’s second quarter organic revenue growth was 0.8%.Follow @DanFareyJones
This article was first published on campaignlive.co.uk
- ACCOUNT MANAGER - Branding Agency - FREELANCE / CONTRACT Royds Raphael £170 - £200 day rate / c£38k-£42k pro rata, London
- Digital Account Executive Twist Recruitment £18000.00 - £22000.00 per annum + benefits, City of London
- Account Manager / Senior Account Manager Blue Tree Recruits £30,000 - £35,000, Guildford, Surrey
- Account Director Blue Tree Recruits £40,000 - £50,000, Central London
- Junior Artworker Blue Tree Recruits £18,000 plus benefits , Theale, Reading
- Tesco Clubcard uses Twitter to pick out Christmas gift ideas
- Samsung launches first Christmas TV campaign in the UK
- O2 launches 'walk' campaign with Ed Sheeran
- BBH London promotes Caroline Pay to deputy ECD
- ASA bans 'strongly sexual' Giffgaff ad
- Hammerson uses automated mechanical model to showcase Christmas gifts